Oregon Public Employees Retirement Fund Has $1.85 Million Holdings in Devon Energy Co. (NYSE:DVN)

Oregon Public Employees Retirement Fund lifted its holdings in shares of Devon Energy Co. (NYSE:DVN) by 5.2% in the 4th quarter, Holdings Channel reports. The institutional investor owned 56,359 shares of the energy company’s stock after acquiring an additional 2,780 shares during the period. Oregon Public Employees Retirement Fund’s holdings in Devon Energy were worth $1,845,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. Hazlett Burt & Watson Inc. increased its holdings in Devon Energy by 29.8% during the third quarter. Hazlett Burt & Watson Inc. now owns 1,263 shares of the energy company’s stock worth $49,000 after buying an additional 290 shares during the last quarter. Sfmg LLC increased its holdings in Devon Energy by 0.5% during the third quarter. Sfmg LLC now owns 64,871 shares of the energy company’s stock worth $2,538,000 after buying an additional 294 shares during the last quarter. Redwood Wealth Management Group LLC increased its holdings in Devon Energy by 3.9% during the fourth quarter. Redwood Wealth Management Group LLC now owns 8,141 shares of the energy company’s stock worth $266,000 after buying an additional 309 shares during the last quarter. Cornerstone Wealth Management LLC increased its holdings in Devon Energy by 1.6% during the fourth quarter. Cornerstone Wealth Management LLC now owns 21,242 shares of the energy company’s stock worth $695,000 after buying an additional 326 shares during the last quarter. Finally, Annex Advisory Services LLC increased its holdings in Devon Energy by 1.2% during the fourth quarter. Annex Advisory Services LLC now owns 27,021 shares of the energy company’s stock worth $884,000 after buying an additional 327 shares during the last quarter. Institutional investors and hedge funds own 69.72% of the company’s stock.

Devon Energy Trading Up 1.0 %

DVN stock opened at $36.24 on Friday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.01 and a current ratio of 1.04. The company’s 50-day simple moving average is $34.94 and its 200 day simple moving average is $38.10. Devon Energy Co. has a 52 week low of $30.39 and a 52 week high of $55.09. The company has a market capitalization of $23.52 billion, a PE ratio of 7.95, a price-to-earnings-growth ratio of 1.20 and a beta of 1.98.

Devon Energy (NYSE:DVN) last posted its quarterly earnings data on Tuesday, February 18th. The energy company reported $1.16 earnings per share for the quarter, topping the consensus estimate of $1.00 by $0.16. Devon Energy had a net margin of 18.14% and a return on equity of 22.52%. The business had revenue of $4.40 billion during the quarter, compared to analysts’ expectations of $4.25 billion. As a group, sell-side analysts anticipate that Devon Energy Co. will post 4.85 earnings per share for the current year.

Devon Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be given a dividend of $0.24 per share. This is a boost from Devon Energy’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.96 annualized dividend and a yield of 2.65%. Devon Energy’s dividend payout ratio is currently 21.05%.

Wall Street Analyst Weigh In

DVN has been the topic of a number of recent analyst reports. Royal Bank of Canada restated a “sector perform” rating and set a $50.00 target price on shares of Devon Energy in a report on Friday, January 10th. TD Cowen lowered their target price on shares of Devon Energy from $54.00 to $46.00 and set a “hold” rating on the stock in a report on Tuesday, November 5th. Susquehanna upped their price objective on shares of Devon Energy from $50.00 to $52.00 and gave the company a “positive” rating in a report on Thursday, February 20th. StockNews.com upgraded shares of Devon Energy from a “sell” rating to a “hold” rating in a report on Friday, January 3rd. Finally, JPMorgan Chase & Co. downgraded shares of Devon Energy from an “overweight” rating to a “neutral” rating and set a $43.00 price objective on the stock. in a report on Thursday, December 5th. Ten investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, Devon Energy currently has a consensus rating of “Moderate Buy” and an average price target of $48.87.

About Devon Energy

Devon Energy Corporation, an independent energy company, engages in the exploration, development, and production of oil, natural gas, and natural gas liquids in the United States. It operates in Delaware, Eagle Ford, Anadarko, Williston, and Powder River Basins. The company was founded in 1971 and is headquartered in Oklahoma City, Oklahoma.